29,444 Shares in Rayonier Inc. (NYSE:RYN) Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC acquired a new position in Rayonier Inc. (NYSE:RYN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 29,444 shares of the real estate investment trust's stock, valued at approximately $821,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Shell Asset Management Co. increased its position in Rayonier by 4.5% in the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust's stock worth $304,000 after purchasing an additional 497 shares during the last quarter. Covestor Ltd boosted its stake in shares of Rayonier by 30.0% during the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 535 shares during the period. Parallel Advisors LLC boosted its stake in shares of Rayonier by 133.5% during the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 642 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Rayonier by 23.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,933 shares of the real estate investment trust's stock worth $110,000 after acquiring an additional 747 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Rayonier in the fourth quarter worth about $25,000. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Trading Up 0.9%

Shares of RYN traded up $0.20 during midday trading on Monday, reaching $22.80. The company had a trading volume of 1,283,324 shares, compared to its average volume of 889,704. Rayonier Inc. has a 1-year low of $22.30 and a 1-year high of $31.29. The stock has a market cap of $3.55 billion, a PE ratio of 9.79 and a beta of 1.05. The firm has a 50 day simple moving average of $23.78 and a 200-day simple moving average of $25.59. The company has a quick ratio of 2.60, a current ratio of 2.71 and a debt-to-equity ratio of 0.54.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). The company had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. Rayonier had a return on equity of 3.29% and a net margin of 30.09%. The firm's revenue was down 27.1% compared to the same quarter last year. During the same period last year, the business earned $0.01 earnings per share. Research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Monday, June 16th. Rayonier's dividend payout ratio is presently 46.78%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James Financial raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research report on Wednesday, March 12th. Citigroup cut their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Royal Bank Of Canada cut their price objective on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Truist Financial cut their price objective on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $27.75.

Rayonier Profile

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.